Russian investments in Armenia may surge up to $5 billion after its joining customs union -NGO

 Russian investments in Armenia may surge up to $5 billion after its joining customs union -NGO

YEREVAN, January 30. / ARKA /. Head of an Armenian non-governmental organization claimed today that Russian investments in Armenia may surge up to $5 billion after its joining the Russia-led Customs Union. 

According to Aram Safaryan, head of Integration and Development non-governmental organization, these numbers were calculated by Russian experts. He was speaking to a group of local journalists having a training course at the School of Journalistic Excellence.

Safaryan recalled that Russia’s leadership demanded that all leading Russian companies transfer their money from offshore jurisdiction to the Russian Federation. As a result, he said, a huge amount of funds was legalized in Russia and this money needs a new field for investment and Armenia can provide that possibility.

He also said apart from Russia Kazakhstan, another member of the Customs Union, which has currently a lot of ‘free’ money, may also invest in Armenia.

According to the National Statistical Service, Russian investments in the real sector of Armenia in the first nine months of 2013 totaled $52.7 million, down 35.7%)from the year before. Of that amount about $42.5 million were direct investments which were down 20.7%.

The overall amount of foreign investments in the real sector of Armenia in January- September 2013 amounted to $ 395.6, down 31.7 % from the year before. Foreign direct investment (FDI) in the real sector  amounted to $155.1 million, a decrease of 62.1%. -0-

15:24 30.01.2014

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